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Beat The Headlines. Be The Expert. VREBC 2009

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Presentation from the Virtual Real Estate Barcamp November 17 2009

Published in: Real Estate, Business, Technology
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Beat The Headlines. Be The Expert. VREBC 2009

  1. 1. Beat the Headlines. Be the Local Market Expert .
  2. 2. The Only 3 Questions Consumers Ask <ul><li>1. What’s for sale? </li></ul><ul><ul><li>IDX Search </li></ul></ul><ul><li>2. How much is my house worth? </li></ul><ul><ul><li>CMA </li></ul></ul><ul><li>3. How’s the market? </li></ul><ul><ul><li>This is your opening! </li></ul></ul><ul><ul><li>What’s different about this question from the other two? </li></ul></ul>
  3. 3. When they ask, “How’s the market?” <ul><li>“ I want to participate, show me how I can/why I should?” </li></ul><ul><ul><li>They know the market is bad… </li></ul></ul><ul><ul><li>But how is it good for them? </li></ul></ul><ul><li>A “buying” signal </li></ul><ul><ul><li>Buying your services – they need an expert </li></ul></ul><ul><ul><li>Compelling to action – they want guidance </li></ul></ul>
  4. 4. Get Local!
  5. 5. How? “ Soft Sell” “ Hard Sell” Blog Posts Local Pages Chart Widgets Sample Reports Lead Form Call to Action Relationships, inform Convert visitors to leads Goals: Presentation: Style: Personality, quantity High profile data, fewer options Approach: Social Media
  6. 6. Great Web Site Samples <ul><li>Real Estate Stats Bloggers </li></ul><ul><ul><li>www.LoCoMarketStats.com – Heather Elias </li></ul></ul><ul><ul><li>www.napervillehomesblog.com – Tony Lazzari </li></ul></ul><ul><ul><li>www.AtHomeInScottsdale.com - Dru Bloomfield </li></ul></ul><ul><ul><li>www.BlogByTheBay.com -Ginger Wilcox </li></ul></ul><ul><li>The Three Questions </li></ul><ul><ul><li>www.Housechick.com – Kelley Koehler </li></ul></ul><ul><li>Local Market Pages </li></ul><ul><ul><li>www.OCExclusives.com – Jessie Brossa </li></ul></ul><ul><ul><li>www.StlHomeData.com – Eric Stegemann </li></ul></ul><ul><ul><li>www.rerockstar.com – Matt Stigliano </li></ul></ul><ul><li>Lead Focused </li></ul><ul><ul><li>www.TheHarperTeam.com – John Harper </li></ul></ul>
  7. 7. More Than Just a Price Trend <ul><li>Setting seller expectations </li></ul><ul><ul><li>Percent Price Decreased: “This is what happens to the over-pricers” </li></ul></ul><ul><ul><li>DoM: “here’s what we’re looking at…” </li></ul></ul><ul><li>Buyer off the fence </li></ul><ul><ul><li>Inventory: “You’re in the highest-demand segment” </li></ul></ul><ul><ul><li>Average vs. Median DoM: the best properties moving more quickly </li></ul></ul>
  8. 8. Setting the Price Right & Knowing the Market % Price Decreased : Measures the number of active listings that have experienced a price reduction in the last 90 days
  9. 9. Market Analysis by Price Level (“Quartile”) <ul><li>Quartile 1: Most expensive 25% of properties </li></ul><ul><li>Quartile 2: Top Middle 25% </li></ul><ul><li>Quartile 3: Bottom Middle 25% </li></ul><ul><li>Quartile 4: Least expensive 25% of properties </li></ul><ul><li>Example: 80 homes for sale in a market (city or zip code) </li></ul><ul><ul><li>4 &quot;quartiles&quot; (groups) each have 20 properties based on individual property prices. </li></ul></ul><ul><ul><li>Allows for market definition by price, not just geography </li></ul></ul>
  10. 10. Days-on-Market by “Quartile” DoM in most expensive price segment (black line) compared to middle & lower price segments
  11. 11. Key Takeaways: <ul><li>How do you answer, “How’s The Market?” </li></ul><ul><li>Use the data to illustrate your expertise </li></ul><ul><li>Clients want the insights/statistics/guidance no matter how you reach them: web, email, print, face-to-face </li></ul>
  12. 12. Just For Attendees <ul><li>Posting this presentation online to Slideshare </li></ul><ul><li>Send you a Personalized Market Report to use next week </li></ul><ul><ul><li>Buyer Meetings coming up? </li></ul></ul><ul><ul><li>Listings Presentations </li></ul></ul><ul><ul><li>Sellers – helping them really see the market </li></ul></ul>
  13. 13. Contact info <ul><li>www.AltosResearch.com </li></ul><ul><li>@altosresearch </li></ul><ul><li>@mikesimonsen </li></ul><ul><li>[email_address] </li></ul>

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